SkyEurope blames failed bridge loan, cut-rate fares for demise

SkyEurope Airlines, which suspended operations Monday, released a statement saying the trustee appointed by a Slovak court to oversee the LCC's restructuring "assessed that the company did not have sufficient funds for sustaining operations" and opted to file for bankruptcy.
The carrier said it "tried to set up a bridge financing facility to remedy the liquidity shortfall, but this facility was not funded in the last moment" and that "recent actions of suppliers" and falling passenger ...